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Budget 2012: Some good news for the creative industries

budget 2012: Some good news for the creative industries

22 March 2012

In a welcome u-turn in the Budget, the government has announced that it will grant tax breaks to the games industry, under what it calls the ambition “to make the UK the technology hub of Europe”. This is something which the last Labour government had proposed but which had, until now, been dismissed by the coalition government.

Richard Wilson, the CEO of games trade association TIGA, commented “This is a brilliant decision by the Government and terrific news for the UK video games industry“.

When coupled with further positive developments relating to the Patent Box (to be introduced in April 2013) this proposal looks set to be a favourable one for those developing technology in the UK. The devil will be in the detail (consultation on the proposals is expected over the coming months) but this is certainly a step in the right direction towards confirming the UK as a venue of choice for creative industries.

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